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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported):
January 3, 2000
BERINGER WINE ESTATES HOLDING, INC.
(Exact Name of Registrant as Specified in Its charter)
DELAWARE 68-0370340
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(State or Other Jurisdiction of (IRS Employer Identification No.)
Incorporation)
610 Airpark Road
P.O. Box 4500
Napa, California 94558
(Address of Principal Executive Office, Including Zip Code)
707-259-4500
(Registrant's Telephone Number, Including Area Code)
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events. Beringer Wine Estates announced on January 3, 2000 that we
had reached a definitive agreement to sell the Napa Ridge brand asset and
inventory to the Bronco Wine Company, Ceres, California for approximately $40
million in cash. The sale includes the Napa Ridge trademarked brand name and all
labelled cased goods in inventory. No winery facility, vineyard holdings or
other real estate will be included. The sale was completed on January 7, 2000.
The sale of the Napa Ridge brand will produce a one-time gain during the third
quarter of fiscal 2000. Excluding this one-time gain, the transaction will be
neutral to slightly dilutive to our earnings in the near term. Incremental wine
supply and production capacity will be used to support other brands in our
portfolio. For the current fiscal year to date, Napa Ridge sales represented
less than five percent of our total revenues.
This Form 8-K contains forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from those
set forth in the forward-looking statements, including the anticipated impact on
earnings in the near term and whether the incremental wine supply and production
capacity can be used to support other brands in our portfolio. For further
details and a discussion of the risks and uncertainties of the company's
business, refer to our other filings with the Securities and Exchange
Commission, including our most recent Form 10-Q dated November 11, 1999, Form
10-K dated September 28, 1999 and Annual Report for the fiscal year ended June
30, 1999. The forward-looking statements represent our judgment as of the date
of this Form 8-K. We disclaim any intent or obligation to update our forward-
looking statements. Actual results may differ materially and adversely from
those anticipated, believed, estimated or otherwise indicated.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
following authorized officer.
BERINGER WINE ESTATES HOLDINGS, INC.
By /s/ Peter F. Scott
Date: January 11, 2000 Peter F. Scott
Executive Vice President
and Chief Financial Officer
